Crude oil: top 25 events that rocked the cost

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Sumit Dutta
12/31/2015

The oil price has dropped to record lows over the past 12 months but this is a not a new phenomenon. Indeed numerous events through the ages have acted as turning points in the rise and fall of oil prices.

In the interactive timeline below we highlight twenty-five of the most influential milestones that have impacted the cost of the most precious and contentious commodity on earth. Starting at the dawn of the US Civil War we track through to modern day and question whether history is fated to repeat itself.

PEAKS & LOWS: A HISTORY OF WTI CRUDE OIL PRICES SINCE 1861

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THE TOP 25 EVENTS THAT ROCKED THE PRICE OF CRUDE OIL

Scroll left and right to find out what events impacted the oil price in this interactive Oil & Gas IQ timeline

OIL: CRUDE OIL PRICES 1861 - 2014

Below you will find a complete history of the oil prices over the past 150 years. Listed are the unadjusted original prices as well as the prices adjusted for inflation to 2014. Products tracked: 1861-1944 US Average. 1945-1983 Arabian Light posted at Ras Tanura. 1984-2014 Brent dated.e
$ Adjusted

Year	$ Unadjusted Price	$ Adjusted for Inflation (2014)
1861	0.49	12.86
1862	1.05	24.80
1863	3.15	60.32
1864	8.06	121.50
1865	6.59	101.50
1866	3.74	60.22
1867	2.41	40.66
1868	3.63	64.30
1869	3.64	64.48
1870	3.86	71.97
1871	4.34	85.42
1872	3.64	71.64
1873	1.83	36.02
1874	1.17	24.38
1875	1.35	28.98
1876	2.56	56.68
1877	2.42	53.58
1878	1.19	29.07
1879	0.86	21.76
1880	0.95	23.21
1881	0.86	21.01
1882	0.78	19.06
1883	1.00	25.30
1884	0.84	22.04
1885	0.88	23.09
1886	0.71	18.63
1887	0.67	17.58
1888	0.88	23.09
1889	0.94	24.67
1890	0.87	22.83
1891	0.67	17.58
1892	0.56	14.70
1893	0.64	16.79
1894	0.84	22.89
1895	1.36	38.54
1896	1.18	33.44
1897	0.79	22.39
1898	0.91	25.79
1899	1.29	36.56
1900	1.19	33.73
1901	0.96	27.21
1902	0.80	21.80
1903	0.94	24.67
1904	0.86	22.57
1905	0.62	16.27
1906	0.73	19.16
1907	0.72	18.22
1908	0.72	18.89
1909	0.70	18.37
1910	0.61	15.44
1911	0.61	15.44
1912	0.74	18.08
1913	0.95	22.66
1914	0.81	19.06
1915	0.64	14.91
1916	1.10	23.83
1917	1.56	28.78
1918	1.98	31.10
1919	2.01	27.50
1920	3.07	36.26
1921	1.73	22.87
1922	1.61	22.72
1923	1.34	18.58
1924	1.43	19.79
1925	1.68	22.67
1926	1.88	25.13
1927	1.30	17.71
1928	1.17	16.16
1929	1.27	17.54
1930	1.19	16.86
1931	0.65	10.10
1932	0.87	15.07
1933	0.67	12.23
1934	1.00	17.67
1935	0.97	16.72
1936	1.09	18.61
1937	1.18	19.45
1938	1.13	18.97
1939	1.02	17.37
1940	1.02	17.21
1941	1.14	18.32
1942	1.19	17.27
1943	1.20	16.42
1944	1.21	16.27
1945	1.05	13.80
1946	1.12	13.56
1947	1.90	20.12
1948	1.99	19.56
1949	1.78	17.67
1950	1.71	16.80
1951	1.71	15.57
1952	1.71	15.24
1953	1.93	17.07
1954	1.93	16.98
1955	1.93	17.05
1956	1.93	16.80
1957	1.90	15.96
1958	2.08	17.02
1959	2.08	16.87
1960	1.90	15.17
1961	1.80	14.23
1962	1.80	14.08
1963	1.80	13.91
1964	1.80	13.72
1965	1.80	13.49
1966	1.80	13.12
1967	1.80	12.75
1968	1.80	12.24
1969	1.80	11.62
1970	1.80	10.97
1971	2.24	13.08
1972	2.48	14.04
1973	3.29	17.53
1974	11.58	55.62
1975	11.53	50.74
1976	12.80	53.24
1977	13.92	54.34
1978	14.02	50.91
1979	31.61	103.07
1980	36.83	105.81
1981	35.93	93.57
1982	32.97	80.88
1983	29.55	70.24
1984	28.78	65.58
1985	27.56	60.64
1986	14.43	31.17
1987	18.44	38.42
1988	14.92	29.86
1989	18.23	34.80
1990	23.73	42.97
1991	20.00	34.77
1992	19.32	32.60
1993	16.97	27.80
1994	15.82	25.27
1995	17.02	26.43
1996	20.67	31.19
1997	19.09	28.16
1998	12.72	18.47
1999	17.97	25.54
2000	28.50	39.17
2001	24.44	32.68
2002	25.02	32.93
2003	28.83	37.09
2004	38.27	47.96
2005	54.52	66.09
2006	65.14	76.50
2007	72.39	82.65
2008	97.26	106.94
2009	61.67	68.05
2010	79.50	86.31
2011	111.26	117.09
2012	111.67	115.14
2013	108.66	110.42
2014	98.95	98.95